Brady ended the year strong with the acquisition of energycredit, a company with specialised domain expertise in credit risk to the energy and commodity markets. The acquisition was completed to enhance Brady’s presence as a global risk management solution provider. Having received Energy Risk’s award for Credit Risk Solution of the Year for 8 of the past 10 years, Energycredit’s track record of success in credit risk management proved to be of great importance.
Brady acquired ScrapRunner, the leading product designed specifically for the scrap metal recycling industry for managing complex container pickup and delivery scheduling, tracking the location of containers and reporting on the activity and location of trucks using Global Position System (GPS) tracking. ScrapRunner is available as a Cloud-based solution, which can be either licensed or leased on a monthly basis. This acquisition was completed to further extend Brady’s footprint in the recycling sector and offer customers a complete solution for their recycling activities.
SAI was the market leader in recycling software which highly complemented Brady’s existing market leading metals and concentrates trading business. The acquisition also provided both product and domain knowledge along with human capital, as Brady expanded its presence in the North American markets. This acquisition further strengthened Brady’s product offering to the market by complementing its existing financial and risk management capabilities and provided new cross-selling and other growth opportunities outside the Americas.
By bringing syseca into the Brady group, a team of energy experts in the physical power scheduling space was acquired. Syseca provided a European-wide scheduling and balancing solution covering the major Transmission System Operators, which further complemented the Brady Energy offering and provided customers with a complete solution for their physical and financial energy trading requirements.
The Navita acquisition brought additional energy expertise and client base to the Group. A significant company in the physical power markets, it offered a vital contribution to Brady PLC as a whole. It helped to consolidate the company’s position as the leading energy software company in Europe. The combination of Brady Energy’s (formerly Viz) financial and risk management skills aligned with Navita’s proven strength in physical energy trading made a very compelling rationale for the acquisition. Brady raised £18 million to fund the transaction, which once again broadened its investor base and increased liquidity in the company’s stock.
Late 2010 saw Brady’s entrance into the energy market. This was a natural progression, as Brady has estimated that more than 60% of its customers were actively trading energy. The acquisition of Viz Risk Management was therefore an excellent entrée into energy trading and risk management. At the time, Brady underwent a fundraising initiative to raise £12 million in the market, enabling the company to significantly broaden its institutional customer base.
The Viveo acquisition proved to be an excellent fit, offering customers a globally deployed end to end solution for physical and future contract administration, risk management, physical trading, profit and loss analytics, inventory management, trade finance and document management with integrated accounting functionality.
Brady successfully acquired Commodities Software (UK) Ltd (Comsoft), which focused on raw materials and concentrates. As Comsoft was the market leader in raw materials and concentrates trading solutions, the acquisition complemented Brady’s leading position in derivative and refined metal trading. This was further facilitated by both companies’ sharing of many common customers. By acquiring Comsoft, Brady was able to utilise the team’s leading solutions and domain expertise to offer customers a more complete metals solution. Coupled with Brady’s strong brand and international distribution channels, the business grew significantly.
Recognising the opportunities open to the company within this dynamic and fast paced industry, Brady recruited a new management team to further the growth of the business. Gavin Lavelle was appointed as Chief Executive Officer and Paul Fullagar as Chairman. As Brady had a good platform in metals, the new Board was brought in to drive further growth in the business via international expansion, strengthening marketing and distribution as well as solution diversification. The Board considered a strategy of carefully selected acquisitions to enhance Brady’s offering to its customers, as well as fully using the AIM listing to reinforce and diversify its investor base.
Brady was listed on AIM to provide extra stability, strength and visibility of governance to customers. The public listing provided the company with ready access to capital from supportive investors in order to further growth through acquisition to complement its organic activities.